The National Petroleum Authority (NPA) has recently secured an agreement with Senegal and Gambia for the importation of petroleum products from Ghana.
This development expands Ghana’s export portfolio, which already includes Mali, Niger, Burkina Faso, Cote D’Ivoire, and Togo.
In 2023, the volume of petroleum products re-exported and transited to these neighboring countries amounted to an impressive 385,154,100 liters.
Speaking at the Ghana International Petroleum Conference (GhiPCon), themed “The Petroleum Industry: Building a Future for Growth, Efficiency, and Sustainability,” Dr. Mustapha Abdul-Hamid highlighted the increase in export volumes as evidence of NPA’s success in curbing illicit fuel activities in the country.
The Ghanaian petroleum industry has registered over 3,000 service providers, featuring significant local participation.
Annually, the industry delivers over four million metric tonnes of petroleum products domestically and internationally, positioning itself as a key contributor to Ghana’s GDP growth.
Dr. Abdul-Hamid noted, “We estimate that the sector had a monetary value of over GHC 71 billion, representing about 84% of the country’s 2023 GDP. In the past seven years, the industry returned an average annual value of over GHC 35 billion.”
Emphasizing the dynamic nature of the downstream petroleum industry, the NPA is committed to leveraging technology and innovation.
The NPA has implemented various strategies and policies to ensure efficiency, profitability, and value for consumers. One such initiative is the transparent automatic price adjustment formula, which has reformed pricing from an annual regulated price with unpaid subsidies to bi-weekly and daily regulations.
The NPA has also declared zero tolerance for toxic fuel, with Ghana, Kenya, Tanzania, Uganda, and Morocco now consuming low-sulfur fuels. The typical import contains less than 50 ppm, with a roadmap for local refineries to comply.
To ensure the integrity of the quality and quantity of petroleum products delivered to consumers, the NPA has rolled out several technology-based projects. These include the petroleum marking scheme, bulk road vehicle tracking project, electronic cargo tracking system, and enterprise relational database management software.
During the conference, the Minister of Energy, on behalf of Vice President Dr. Mahamudu Bawumia, praised the NPA for its strategic management of the “Gold for Oil” program and the Cylinder Recirculation Model (CRM), which have boosted investor confidence in the sector. These efforts, combined with a robust policy framework, have encouraged private sector investment, contributing significantly to Ghana’s policy target of 50% LPG penetration by 2030.
The Minister challenged the NPA to continue investing in infrastructure, leveraging cutting-edge technology, and enhancing supply chain resilience to secure Ghana’s energy future. He emphasized that strategies must be robust, innovative, and adaptable to geopolitical tensions, technological advancements, and environmental concerns.